159-152. Order approving or denying the application.
(a) After considering an application, and conducting a public hearing thereon if one is requested under G.S. 159-151, the Commission shall enter its order either approving or denying the application. An order approving an application shall not be regarded as an approval of the legality of the contract in any respect.
(b) If the Commission enters an order denying an application, the proceedings under this Article shall be at an end. (1971, c. 780, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 159 - Local Government Finance
Article 8 - Financing Agreements and Other Financing Arrangements.
§ 159-148 - Contracts subject to Article; exceptions.
§ 159-149 - Application to Local Government Commission for approval of contract.
§ 159-150 - Sworn statement of debt; debt limitation.
§ 159-151 - Approval of application by Commission.